Saudi Arabia to Invest $1 Billion in Chinese Ethylene Project, an Industrial Info News Alert
Posted on: Thursday, 24 July 2008, 09:01 CDT
Researched by Industrial Info Resources (Sugar Land, Texas) -- At the International Oil Conference in Jeddah, Saudi Arabia, China National Petroleum & Chemical Corporation (NYSE:SNP) (Sinopec) (Beijing) and Saudi Basic Industries Corporation (SABIC) signed an agreement regarding SABIC's investment in Sinopec Tianjin Petrochemical's 1-million-ton-per-year ethylene project. The project is the largest ever undertaken by Tianjin, with a total investment value of $3.95 billion. As early as June of last year, SABIC and Sinopec reached an initial agreement that SABIC would invest $1 billion into the ethylene project.
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Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to chemicalsgroup@industrialinfo.com or visit us online at www.industrialinfo.com.
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Contact: Joe Govreau 713-783-5147
SOURCE: Industrial Info Resources
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